Don’t fear failure, students told
PEOPLE looking to start up businesses in present-day South Africa should be more innovative and knowledge-focused in their enterprises.
The fear of failure should not hinder one from starting a successful enterprise.
James Berg said this during a discussion held at the NMMU Business School yesterday to create a dialogue between the school and its external stakeholders, which will assist business-minded Nelson Mandela Bay people in becoming more holistic and knowledgeable leaders for tomorrow.
With more than 20 years international business experience in developing and commercialising products in environmental and biotechnology, Berg is one of Norway’s best innovation and commercialisation experts.
He believes knowledge and impact are the foundation steps when starting a business. For a business idea to become sustainable it needs to have a holistic impact.
Berg said business ideas and plans sometimes did not work out the way one intended, so one should not be intimidated by the fear of having an unsuccessful business.
Having the urge to go out and do what you desire is what eventually leads to a successful business.
The fear of failure should not equate to foolishness.
Berg discussed the failure of his business in Norway and how devastated he was that he had to tell his employees they would be jobless.
Due to the experience that he has had in business, he has learned to value his employees and teamwork, because a business cannot succeed without it.